The National Association of Insurance Commissioners has begun setting its 2008 budget. The group will have more money to work with than it did in 2007. The 2008 budget proposes revenues and expenses of $68.2 million and $66.4 million, respectively. …
Consumer spokesmen want a national group of insurance regulators to toughen its conflict-of-interest policies, in part because of questions raised by last month’s resignation of former North Dakota Insurance Commissioner Jim Poolman. Poolman’s departure is the latest instance of a …
The UK-based Novae Insurance Company Limited, the wholly-owned subsidiary of Novae Group plc, has appointed Jonathan Morgan unit head of its regional financial lines division in the UK and Ireland. Morgan started his career at Lexington, where he specialized in …
Bermuda’s Flagstone Reinsurance Holdings Limited announced two senior management appointments for its European subsidary, Flagstone Reassurance Suisse SA. Guy Swayne has been appointed CEO, subject to approval by the Federal Office of Private Insurance in Switzerland. Jacques de Bruijn joins …
Standard & Poor’s Rating Services has issued a series of reports on the global reinsurance industry, timed to appear as the annual Reinsurance Rendezvous opens its doors in Monte Carlo. The meeting, which features three days of talking, networking, deal …
An insurance company is suing an airline for damage that a prize-winning $1 million Ferrari, owned by the chairman of the city’s public transportation system, sustained while being brought to this country from Switzerland. Damage to the car, a 1959 …
Bermuda-based PartnerRe Ltd. announced that “Partner Reinsurance Europe Limited, a wholly- owned subsidiary of PartnerRe Ltd., based in Dublin, will, from January 1, 2008, be the principal reinsurance carrier for PartnerRe’s business underwritten in France, Ireland, Switzerland and Canada.” Rating …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of France’s SCOR Group and its rated subsidiaries. Best also affirmed the senior debt and subordinated debt either issued …
If the reinsurance industry were a game of golf, one would say that after three rounds — the two halves of 2006 and the first half of 2007 — it tops the leader board. But as any golf buff knows …
Record earnings, capitalization and profits deliver new challenges for reinsurers If the reinsurance industry were a game of golf, one would say that after three rounds — the two halves of 2006 and the first half of 2007 — it …
